Asana, Inc. (NYSE:ASAN) CEO Dustin A. Moskovitz Buys 224,507 Shares

Asana, Inc. (NYSE:ASAN - Get Free Report) CEO Dustin A. Moskovitz bought 224,507 shares of the business's stock in a transaction dated Friday, March 28th. The shares were acquired at an average cost of $14.72 per share, for a total transaction of $3,304,743.04. Following the transaction, the chief executive officer now directly owns 49,922,943 shares in the company, valued at approximately $734,865,720.96. This represents a 0.45 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.

Asana Price Performance

NYSE:ASAN traded down $0.37 during mid-day trading on Friday, hitting $14.16. 3,505,667 shares of the company's stock traded hands, compared to its average volume of 2,685,862. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.49 and a current ratio of 1.49. Asana, Inc. has a 1 year low of $11.05 and a 1 year high of $27.77. The company has a market cap of $3.30 billion, a PE ratio of -12.64 and a beta of 1.23. The firm's 50 day simple moving average is $18.46 and its 200 day simple moving average is $17.05.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ASAN shares. DA Davidson dropped their price target on Asana from $20.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 11th. Jefferies Financial Group cut their price objective on shares of Asana from $19.00 to $15.00 and set a "hold" rating for the company in a research report on Tuesday, March 11th. Bank of America lowered their target price on shares of Asana from $30.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, March 11th. Citigroup increased their price target on shares of Asana from $16.00 to $20.00 and gave the stock a "neutral" rating in a report on Thursday, January 16th. Finally, Piper Sandler lowered their price objective on Asana from $27.00 to $18.00 and set an "overweight" rating on the stock in a report on Tuesday, March 11th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Asana has a consensus rating of "Hold" and an average target price of $15.67.

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Hedge Funds Weigh In On Asana

Several hedge funds have recently bought and sold shares of ASAN. Quarry LP acquired a new stake in shares of Asana during the fourth quarter valued at $29,000. Bogart Wealth LLC acquired a new stake in shares of Asana during the 4th quarter worth about $61,000. SBI Securities Co. Ltd. acquired a new stake in shares of Asana during the 4th quarter worth about $82,000. KBC Group NV grew its holdings in shares of Asana by 58.8% during the fourth quarter. KBC Group NV now owns 5,612 shares of the company's stock worth $114,000 after buying an additional 2,078 shares in the last quarter. Finally, State of Tennessee Department of Treasury acquired a new position in shares of Asana in the fourth quarter valued at approximately $135,000. Hedge funds and other institutional investors own 26.21% of the company's stock.

Asana Company Profile

Asana, Inc, together with its subsidiaries, operates a work management platform for individuals, team leads, and executives in the United States and internationally. Its platform helps organizations to orchestrate work from daily tasks to cross-functional strategic initiatives; manage work across a portfolio of projects or workflows, see progress against goals, identify bottlenecks, resource constraints, and milestones; and communicate company-wide goals, monitor status, and oversee work across projects and portfolios to gain real-time insights.